UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Amendment No. 9)*
Under the Securities Exchange Act of 1934
Meritage Hospitality Group Inc., a Michigan corporation
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(Name of issuer)
Common Shares, $.01 par value
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(Title of class of securities)
59000K 10 1
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(CUSIP number)
Christopher B. Hewett
President
Meritage Capital Corp.
40 Pearl Street, N.W., Suite 900
Grand Rapids, Michigan 49503
(616) 776-2600
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(Name, address and telephone number of person authorized to
receive notices and communications)
SEPTEMBER 15, 1998
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b) (3) or (4), check the following box [ ].
Note:Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6 Pages
<PAGE>
CUSIP NO. 59000K 10 1 SCHEDULE 13D Page 2 of 6 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Meritage Capital Corp.
65 - 0457574
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO TIME 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
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7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 1,551,300
REPORTING -------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,551,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,551,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.0%
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14 TYPE OF REPORTING PERSON
CO
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<PAGE>
CUSIP NO. 59000K 10 1 SCHEDULE 13D Page 3 of 6 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christopher B. Hewett
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO TIME 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
275,739
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH 1,551,300
REPORTING -------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
275,739
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10 SHARED DISPOSITIVE POWER
1,551,300
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,827,039
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.7%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
CUSIP NO. 59000K 10 1 SCHEDULE 13D Page 4 of 6 Pages
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1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert E. Schermer, Jr.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO TIME 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
173,743
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING -------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
173,743
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
173,743
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
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14 TYPE OF REPORTING PERSON
IN
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<PAGE>
This Schedule 13D as previously filed is amended in Items 3 through 5 by adding
the material below.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
See Item 5(c) below. In addition, see Item 3 of Schedule 13D (Amendment No.
7).
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) See pages 2, 3 and 4, nos. 11 and 13.
(b) See pages 2, 3 and 4, nos. 7-10.
(c) On February 13, 1998, Mr. Hewett used personal funds to acquire 13,308
of the Issuer's common shares at a price of $1.475 per share. On
August 3, 1998, Mr. Schermer used personal funds to acquire 2,000 of
the Issuer's common shares at a price of $1.375 per share, and on
August 27, 1998, used personal funds to acquire 500 of the Issuer's
common shares at a price of $1.3125 per share. On May 21, 1998,
options for 10,000 common shares to Mr. Hewett, and 9,000 common
shares to Mr. Schermer, granted pursuant to the 1996 Management Equity
Incentive Plan, became exercisable. However, because the option
exercise price is greater than the current market price, these options
currently have no value. On September 15, 1998, Mr. Hewett converted
31,800 Series A Convertible Preferred Shares previously acquired into
225,531 common shares. On September 15, 1998, Mr. Schermer converted
20,000 Series A Convertible Preferred Shares previously acquired into
141,843 common shares. In connection with these transactions,
beneficial ownership in the Issuer is as follows: Meritage Capital
Corp. - 27.0%; Mr. Hewett - 31.7%; and Mr. Schermer - 3.0%.
(d) None.
(e) Not applicable.
Page 5 of 6 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: September 22, 1998 MERITAGE CAPITAL CORP.
By: /s/ Christopher B. Hewett
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Christopher B. Hewett
President
/s/ Christopher B. Hewett
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Christopher B. Hewett
Individually
/s/ Robert E. Schermer, Jr.
------------------------------
Robert E. Schermer, Jr.
Individually
Page 6 of 6 Pages
